December 13, 2016
The company’s conference, Cohesion Creates the Future, was held in Beijing, and saw over 200 guests attend the “historic” event.
Lexmark revealed earlier this year that the merger had been approved by shareholders, though it “remain[ed] subject to certain regulatory approvals”, such as the CFIUS, as well as “other customary closing conditions”, though the CFIUS later approved it. The merger had been expected to be completed in the second half of the year, despite The Recycler reporting earlier this year that Lexmark employees were attempting to block the deal.
After it was officially completed last week, Apex and Ninestar released a statement noting that they “are delighted” with the deal, which has seen Apex take “a great step onto the global business stage”. They added that “this is not only a milestone development in Apex’s history, but a landmark event for the global printing industry as a whole”.
The companies held the conference to discuss the deal in Beijing on 12 December, with over 200 “distinguished guests and media partners” attending to witness “the historic moment”. The deal, Apex stated, “has become China’s largest overseas acquisition in the printing industry”, and was “not only a milestone development in Apex’s history, but a landmark event for the entire global printing industry”.
Additionally, Apex noted that some analysts have remarked that the merger “is a typical strategic acquisition”, and that “one of its goals was to make strides in the international market by obtaining better technology and products”, Apex adding that “through acquisition, Apex Technology has won more advanced technologies, access to untapped marketing channels, and a global brand presence”.
Lexmark’s “advanced printing technologies and MPS”, it highlights, are “at the forefront of the industry”, while Apex has been “alternatively rooted in the emerging market”, and is a “young but healthy enterprise whose strengths lie with printing cost management and control”, with the “marriage” between the two “mutually beneficial and the synergistic effects they bring have been worth the wait”.
For Ninestar, the acquisition “opens up incredible opportunities”, and from a “marketing perspective, Lexmark has footholds in Europe and America while Apex and Ninestar have established strong channels and a solid customer base in developing countries”. Apex believes that the deal “will improve both parties’ competitiveness in the global market”, while on a production and supplier chain basis, costs “will decrease and recourse integration will be strengthened”.
Reflecting on the Static Control acquisition in 2015, Apex stated that this deal, plus the Lexmark one, make “Apex and Ninestar the only aftermarket printing solution provider backed with the original manufacturer’s technical support”. Both companies “regard loyalty, pragmatism, innovation and win-win” as “core values”, “have never stopped pursuing these”, and are “looking forward to starting the new chapter ahead”.
Jackson Wang, Chairman of Apex Technology, stated: “Many people think this [is a] case where ‘a snake swallows an elephant’, but I would prefer to compare the case to marriage. Apex Technology was a poor young man, but he married a beautiful and successful woman named Lexmark. If you asked me to describe the history of Apex Technology, I would say it has been a long journey exploring the possibility of our innovations.
“With ambitious development and research steeped in technology, Apex has seen sustainable and stable development over the years. And I think this is one of the reasons that the ‘beautiful woman’ wanted to marry the ‘young man’. The expansion and development of an enterprise not only increases profit, it increases its core value.”
Categories : World Focus